Recent Updates
- Australia: Leading Indicator of Employment (Mar),ADI Property Exposures Statistics, Authorized Deposit-taking Institution Performance (Q4), WMI Leading Index of Economic Activity, Job Vacancy Report (Feb)
- Japan: Government Bond Trading Volume by Category of Investors (Feb)
- Hong Kong: RICS Spacious Residential Market Survey (Feb)
- New Zeland: Jobs Online (Feb), International Investment Position, BOP, External Debt (Q4)
- Korea: PPI, Domestic Supply Price and Output Price Indexes (Feb)
- more updates...
Economy in Brief
U.S. Gasoline & Crude Oil Prices Continue to Rise
Retail gasoline prices increased to $2.55 per gallon (-1.9% y/y)...
ZEW's Global Assessments Remain Weak
ZEW survey expectations curled higher this month but continued to stake out very weak readings...
U.S. Home Builder Sentiment Remains Improved
The NAHB-Wells Fargo Composite Housing Market Index held steady at 62 during March...
EMU Trade Surplus Expands on Weak Import Rise
In the EMU, both import and export gains were modest in January...
U.S. JOLTS: Job Openings Remain Abundant
The Bureau of Labor Statistics reported that the total job openings rate increased to 4.8% during January...
by Tom Moeller July 28, 2005
Initial claims for unemployment insurance did rise 5,000 to 310,000 last week but the increase hardly dented the 32,000 decline the week previous which was little revised. Consensus expectations had been for an increase to 320,000 claims.
During the last ten years there has been a (negative) 75% correlation between the level of initial claims for unemployment insurance and the monthly change in payroll employment. There has been a (negative) 65% correlation with the level of continuing claims.
The four week moving average of initial claims fell slightly to 318,250 (-5.7% y/y), the lowest level since early March.
Continuing claims for unemployment insurance rose 32,000 after a 46,000 decline the week earlier which was deeper than initially indicated.
The insured unemployment rate remained at the four year low of 2.0%.
The latest Beige Book from the Federal Reserve Board can be found here.
| Unemployment Insurance (000s) | 07/23/05 | 07/16/05 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Initial Claims | 310 | 305 | -8.8% | 343 | 402 | 404 |
| Continuing Claims | -- | 2,603 | -11.1% | 2,926 | 3,531 | 3,570 |
